Foster & Motley Inc. Purchases Shares of 31,452 Cirrus Logic, Inc. $CRUS

Foster & Motley Inc. purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,452 shares of the semiconductor company’s stock, valued at approximately $4,672,000. Foster & Motley Inc. owned about 0.06% of Cirrus Logic at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CRUS. Parallel Advisors LLC lifted its stake in Cirrus Logic by 6.2% during the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Cirrus Logic by 29.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 88 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares in the last quarter. Diversified Trust Co lifted its position in shares of Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after buying an additional 102 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Cirrus Logic by 120.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Scott Thomas sold 1,300 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at approximately $5,589,881.92. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 2,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the sale, the executive vice president owned 4,537 shares of the company’s stock, valued at $755,410.50. This trade represents a 30.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 17,465 shares of company stock valued at $2,732,169 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $116.88 on Wednesday. The firm’s fifty day simple moving average is $141.84 and its 200-day simple moving average is $148.76. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 14.31 and a beta of 1.18. Cirrus Logic, Inc. has a 12 month low of $109.88 and a 12 month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The firm had revenue of $459.72 million during the quarter, compared to the consensus estimate of $460.32 million. During the same quarter in the prior year, the firm earned $1.51 EPS. Cirrus Logic’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that Cirrus Logic, Inc. will post 7.47 earnings per share for the current year.

Analyst Ratings Changes

CRUS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays reduced their price target on shares of Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. KeyCorp dropped their price objective on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Finally, Stifel Nicolaus reduced their target price on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $150.71.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.